Deutsche Bank Aktiengesellschaft
5-year stock timeline
Deutsche Bank (DBK.XETRA) closed at €26.90 on 2026-05-20. Here's what moved the stock over the past six years.
The turnaround years (2020–2021)
Management deepened cost cuts as COVID arrived, absorbing a $150m penalty tied to Jeffrey Epstein in July 2020. More significantly, the bank returned to full-year profitability in 2020 (€113m net profit, the first since 2014) and exited roughly $4bn in Archegos-related positions during March 2021. These moves materially reduced market anxiety about the bank's capital position and risk appetite.
Sentiment shifts (2021–2023)
The narrative moved from "strategic disarray" to "disciplined turnaround," then stalled. Profitability and resilience through Archegos built constructive confidence, but regulatory and reputational friction—anti-money-laundering probes, ESG/greenwashing scrutiny, Russia exposure questions—kept investor trust uneven. The bank's governance remained a live question mark.
Acceleration into 2025
From 2023 onward, selective M&A (Numis in April 2023), executive continuity (Christian Sewing's contract extension, Marcus Chromik joining as CRO in May 2025) and visible capital discipline shifted the mood. Improving earnings and capital returns re-rated the stock materially. 2025 saw large annual gains and a much more positive investor narrative taking hold.
Chart action
March 2020 marked an extreme COVID panic low—still the largest drawdown in the window. A durable recovery ran through 2021, followed by volatile sideways rotation into 2022. From 2023 through 2025, a clear multi-leg uptrend unfolded with strong rallies. Into 2026, the stock has pulled back from 2025 highs into consolidation, currently trading in the €26–28 band.
Key risks and downside factors
Deutsche Bank competes in crowded territory. Large US investment banks and major European universal banks press from established positions, while fintechs chip away at fees and deposits with leaner models. BNP Paribas and UBS (now absorbing Credit Suisse's franchise) represent the closest regional threats, though US players maintain an edge in global capital markets reach. The real friction points are structural. Regulatory capital requirements remain tight. Legacy litigation still drags. Margin compression is real—private credit players and fintech alternatives are pulling yield out of traditional banking. Wealth management and markets divisions face steady competitive pressure, the kind that doesn't resolve itself through a cycle or two. Deutsche Bank operates with less room for error than some peers, which means execution matters more than strategy in the near term.
- Larger US investment banks are squeezing market share and fees in global capital markets, which is eroding investment banking and trading revenues.
- Tightening regulatory capital requirements and stress-testing regimes across the EU and Germany are eating into returns and limiting how freely banks can deploy capital [3].
- Fintechs and challenger banks are steadily pulling retail deposits, payments revenue, and customer relationships away from traditional institutions [3].
- Private credit and alternative lenders are steadily capturing mid-market loans, which is compressing both lending margins and deal flow for traditional players.
Competitive landscape
Deutsche Bank operates as a universal bank across Europe, competing directly with major US investment banks and leading European institutions in investment banking, global markets, corporate banking, and wealth management. The bank operates from a position of structural disadvantage—smaller than its US counterparts, pressed by European competitors and fintech challengers in retail and transaction services, and exposed to regulatory complexity and market volatility that meaningfully shape its risk posture.
| Company | Ticker |
|---|---|
| UBS Group AG | UBSG.SIX |
| BNP Paribas | BNP.PA |
| The Goldman Sachs Group, Inc. | GS.NYSE |
Private competitors
- N26 [web:1]
- Revolut [web:1]
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Start Free TrialPerformance Figures of Deutsche Bank Aktiengesellschaft
Relative Performance vs Benchmarks
| Period | Deutsche Bank Aktiengesellschaft | vs DAX | vs S&P 500 (SPY) |
|---|---|---|---|
| 1M | -4.88% | -5.12% | -8.41% |
| 3M | -11.54% | -9.27% | -19.03% |
| 6M | -8.46% | -14.45% | -20.43% |
| 1Y | +9.63% | +7.80% | -15.55% |
| 3Y | +190.96% | +140.58% | +108.82% |
| 5Y | +149.43% | +90.88% | +60.10% |
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Start Free TrialHistorical valuation trends
How the company’s key valuation ratios (P/E, P/S, P/B and P/CF) have evolved over time compared to today.
| Period | P/E Ratio | P/S Ratio | P/B Ratio | P/CF Ratio |
|---|---|---|---|---|
| Current | 7.4 | 0.9 | 0.7 | 1.1 |
| 1Y ago | 9.4 | 0.9 | 0.6 | -1.8 |
| 3Y ago | 3.6 | 0.5 | 0.3 | -9.8 |
| 5Y ago | 16.7 | 0.8 | 0.4 | 0.8 |
Frequently Asked Questions
Where is the Deutsche Bank Aktiengesellschaft stock traded?
What does Deutsche Bank Aktiengesellschaft do?
What are the key metrics for DBK.XETRA?
How has Deutsche Bank Aktiengesellschaft's stock price performed?
How is DBK.XETRA valued?
Does DBK.XETRA pay dividends?
What are the key risks when investing in DBK.XETRA?
- Larger US investment banks are squeezing market share and fees in global capital markets, which is eroding investment banking and trading revenues.
- Tightening regulatory capital requirements and stress-testing regimes across the EU and Germany are eating into returns and limiting how freely banks can deploy capital [web:3].
- Fintechs and challenger banks are steadily pulling retail deposits, payments revenue, and customer relationships away from traditional institutions [web:3].
- Private credit and alternative lenders are steadily capturing mid-market loans, which is compressing both lending margins and deal flow for traditional players.
Who are the main competitors of Deutsche Bank Aktiengesellschaft?
- UBS Group AG (UBSG.SIX)
- BNP Paribas (BNP.PA)
- The Goldman Sachs Group, Inc. (GS.NYSE)
When does Deutsche Bank Aktiengesellschaft report earnings?
Key Metrics
Valuation Metrics
Profitability Metrics
Growth Metrics
Dividend history
Long-term record of paid dividends (amount per share and dividend yield at the time of payment).
| Year | Dividend | Yield at payment | Avg. yield |
|---|---|---|---|
| 2026 | 1.00 EUR | — | 2.13% |
| 2025 | 0.68 EUR | 2.71% | |
| 2024 | 0.45 EUR | 2.84% | |
| 2023 | 0.30 EUR | 3.10% | |
| 2022 | 0.20 EUR | 2.11% | |
| 2019 | 0.11 EUR | 1.70% | |
| 2018 | 0.11 EUR | 1.06% | |
| 2017 | 0.19 EUR | 1.13% | |
| 2015 | 0.67 EUR | 2.53% | |
| 2014 | 0.64 EUR | 2.47% | |
| 2013 | 0.64 EUR | 2.09% | |
| 2012 | 0.64 EUR | 2.58% | |
| 2011 | 0.64 EUR | 1.83% | |
| 2010 | 0.58 EUR | 1.52% | |
| 2010 | 0.43 EUR | — |
Earnings history & estimates
Historical earnings performance shows how consistently the company meets or exceeds analyst expectations. Forward estimates provide insight into expected profitability and growth trajectory.
Historical earnings performance
Upcoming earnings report
Analyst estimates for upcoming periods
Key financial figures
Selected income statement, balance sheet and cash flow figures. Annual and quarterly, based on reported IFRS/GAAP financials.
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | 60.89B | 66.34B | 59.35B | 26.59B | 25.31B |
| Operating income (EBIT) | 9.73B | 5.29B | 5.68B | 5.80B | 4.02B |
| Net income | 6.93B | 3.37B | 4.77B | 5.52B | 2.37B |
| Free cash flow | 46.62B | -29.11B | 5.18B | -2.45B | -3.50B |
| Total assets | 1.44T | 1.39T | 1.31T | 1.34T | 1.32T |
| Equity | 78.64B | 77.83B | 73.05B | 61.96B | 58.03B |
| Net debt | 194.25B | 70.70B | -40.34B | -49.44B | -43.17B |
PWP Leeway UG (haftungsbeschränkt)
